The government of India announced a sale of 100% stake in debt-laden Air India. As part of the strategic disinvestment and has set March 17, as the deadline for submitting an expression of interest (EoI). Air India would also sell 100% stake in low-cost airline Air India Express and 50 per cent shareholding in joint venture AISATS.
The financial position of Air India is very fragile and the Government has limited resources. Air India is under a debt trap and the private sector can bring required capital to the Airline. Air India staff will be offered three per cent of the airline’s total shares in the government’s disinvestment process.
Important takeaways for all competitive exams:
- Minister of State (Independent Charge) of the Ministry of Civil Aviation: Hardeep Singh Puri.